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HomeMy WebLinkAboutCC Resolution 3264X-20/1RESOLUTION N0. � i�0
RESOLUTION AMENDING RESOLUTION OF INTENTION NO. 2740
IN THE MATTER OF THE INTEREST RATE FOR BONDS TO BE
ISSUED IN FRANCISCO BOULEVARD ASSESSMENT DISTRICT,
CITY OF SAN RAFAEL. COUNTY OF MARIN. STATE OF CALIFORNIA.
BE IT RESOLVED by the City Council of the City of San
Rafael, Marin County, California, that the following language
is hereby deleted from Resolution of Intention No. 2740, adopted
_on the 18th day of February, 1963:
"NOTICE IS HEREBY GIVEN that serial bonds shall be
issued in the manner and form provided in Part 5,
Division 7, of the Streets and Highways Code of the
State of California (Improvement Act of 1911) to
represent unpaid assessments of Fifty Dollars
($50.00) or over, which said bonds shall bear inter-
est at the rate of 6% per annum and the last install-
ment -of which bonds shall mature fourteen (14) years
from the 2nd day of January next succeeding the next
September 1st following their date. Said bonds shall
be payable to bearer, and there shall be added to the
redemption clause in said bonds the following words:
'...together with a premium of five per cent
(5%) of said unpaid principal.I "
and there is hereby substituted therefor the following language:
and
"NOTICE IS HEREBY GIVEN that serial bonds shall be
issued in the manner and form provided in Part 5,
Division 7, of the Streets and Highways Code of
the State of California (Improvement Act of 1911)
to represent unpaid Assessments of Fifty Dollars or
over, which said bonds shall bear interest at a rate
of not to exceed six per cent (6%) per annum, the
last installment of which bonds shall mature four-
teen (14) years from the 2nd day of January next
succeeding the next September 1st following -their
date. Said bonds shall be payable to bearer, and
there shall be added to the redemption clause in
said bonds the following words:
'.....together with a premium of five per
cent (5%) of the unmatured principal"';
BE IT FURTHER RESOLVED that said change is made in accordance
with the provisions of Sections 10350 - 10358, inclusive, of the
Streets and Highways Code of the State of California, and it is the
finding of this City Council that Notice and hearing of such change
is not required under said provisions.
I HEREBY CERTIFY that the foregoing resolution was duly
and regularly adopted by the City Council of the City of San
Rafael, Marin County, California, on the 3rd day of May, 1965,
by the following vote, to wit:
AYES: Councilmen Aby, Baar, Barrier, Jensen, anu i'IWI BeIN
NOES: Councilmen
ABSENT: Councilmen 11�
W. C. CORD L, City Clerk,
City of Xn Rafael, Marin
County, California.
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